Questions on Developing Business
1. Which of the following are essential components of a business plan? (Choose two)
A) Executive Summary
B) Holiday Calendar
C) Market Analysis
D) Favorite TV Shows
2. What is the primary purpose of a business plan? (Choose one)
A) To impress friends
B) To guide business operations and attract investors
C) To win a school competition
D) To plan a vacation
3. Which of these statements is true about the target market? (Choose one)
A) It includes everyone in the world
B) It identifies the specific group of customers the business will serve
C) It only considers the business owner’s preferences
D) It is irrelevant in a business plan
4. Which of the following are financial sections of a business plan? (Choose two)
A) Income Statement
B) Marketing Strategy
C) Cash Flow Statement
D) Product Design
5. In about 100 words, explain why conducting a market analysis is important when developing a business plan. Include at least one example.
Answer:
